Downsizing Update

I think this may have already been leaked but ZS is in the building redoing the territory maps.
Will be rolled out for the 4th quarter.
About 47% less territories based on managed care coverage.
This affects the home office too.

 

Get ready for the Egalet TM Hunger Games boys and girls. May the odds be ever in your favor.

 

Not surprised. We've already enjoyed the 40% job elimination. Expect more. The silence on 002 is deafening. Stock price is still 90% down on Dec 2016. Management sucks.

 

This was the best and most accurate quote I Have scene on egalet and perhaps cafepharma in general....

 

Any more updates?

 

This is the third Pharma I've worked at. This management is about par for the course. They all lie. Upsize, downsize? Who cares? Same shit, different day. Just do your job and keep selling. If you get let go, take the package and move on quietly and with dignity.

 

That sounds like loser talk to me. If I get let go, I'm gonna burn the bitch down! I'm gonna look like a 5 year old throwing a temper tantrum all kicking my feet and screaming like a little girl.

 

LOL Egalet didnt hire and formally bring reps into the company on paper until January 1st 2017. What kind of severance package do you think you get for 10 months of employment!? There will be no package. All employment is "at will." Egalet can and will terminate an employee without cause at any time and owe you nothing. Plus the goals were overshot that no one is hitting them across the board, theyll say you didnt perform if they need to and send you on your way.

This guy with a track record of getting tossed is probably not a good place to get your career advice people. Just go look for another job proactively

 

Yup and even amidst continued horrific performance and another down size...guess who will keep their jobs and live happily ever after? Corporate management. What the fuck the board doing? When is the voting period for stockholders? Time for a massive cleansing.

 

Check out the SEC filing. Corporate leadership selling large portions of their share positions in the company.

 

Shea and Strobeck insider stock sales at $1.30. That shows leadership and confidence. Both are POS.

 

Never been fired in my life, jerk off. Just commenting that as a true sales professional, take being let go during a necessary downsizing with dignity. Your reputation follows you. Whining and whinging gets you no where. Radie and his cronies are no better or worse than other self serving Pharma managers. He gets paid $2.5 million and if he can get away with it, good luck to him. Its called Capitalism. Grow up and grow a set. You come off as pathetic.

 

You can't litter negativity everywhere and then wonder why you have a trashy life.
Pull up your COWARD ASS drawers and stop taking your gigantic diarrhea DUMP here on Cafepharma. If you don't like it here, stop stealing a paycheck and get the F out.

 

You can't litter negativity everywhere and then wonder why you've got a trashy life. Pull up your pants and resist taking your gigantic dump here on Cafepharma. If you don't like it here, stop stealing a paycheck and get the F-out.

 

Ok, #BullshitBob! Hahaha

 

Let's recap - your suggestion was to wait out your days working away for your employer until the day comes when you're asked to get on a last minute 8am teleconference to be notified that you no longer have a job. And since no one has been formally employed by Egalet for more than 1 year, there will be no severance.

This dude's suggestion was to trust your judgement and proactively be looking for other opportunities that benefit yourself professionally and financially instead of riding the apathy bus until it finally results in the company deciding and controling who, what, when, where and how the outcome of your employment situation will take place.

Which one sounds more capitalist to you? Probably the one where the person takes their marketable skills to another company who will pay fair market value for what they believe that skill set and experience is worth.

3rd pharma job? 1) Contract rep jobs are not real pharma jobs buddy. 2) Pharma, even big pharma, takes care of their top producers. They FIND places to put them. Pharma knows that in general 80% of their business is driven by 20% of the sales team. Fired/let go/contract ended. Same shit my friend.

It's easier to find another job while you still have one. If you wait until you're let go any HR recruiter will tell you it brings on a whole separate set of questions that (why are you unemployed? Were you reaaaallly let go as part of a downsizing or were you actually fired and trying to spin it? Why were you part of the group that was let go? Why did they keep someone else instead of you?) For legal liability reasons they can't ask most of these questions. So recruiters assume the worst and sort your resume into the "NOPE" pile. Instead of having to explain for all of those things when pitching you as a candidate to a hiring manager - they can just as easily find a qualified candidate that is employed somewhere else and eliminate the need to explain away the unemployment.

Just go look for another job. Don't "take the severance check and go quietly." You will regret it.

 

Downsizing or bankruptcy? Seriously when is the proxy shareholder vote for the Egalet board? Everyone on the board and in C-suite should be replaced immediately. It takes effort to drive a company this far into the ground.

Current market metrics from Thompson Reuters as of 10/18:
EGLT share price: $1.07
1 Year Low: $1.01
ROE: (-1714%)
1 Year Return on Investment: (-86.3%)
Market Outlook Score: 1 - lowest category.
Fundamentals Score: Negative Outlook - Reasons noted: high debt levels, (-17.2%) revenue growth year over year, (-444.5%) net margin, 94% debt to capital ratio, (-7130%) Accruals.
Ranking for Price Mommentum: 1 lowest score.
High insider trading reported to the SEC. All time high ranking of 5 (highest on index) one month ago on 9/15/17.

Congrats to the Egalet board, corporate officers, and senior managers for turning a $10.00 share price into a PENNY STOCK. Do the right thing by your shareholders and resign. This company is on the way to bankruptcy. "But Egalet is funded through 2020." Guess what happens in 2020 my friends - CONVERTIBLE NOTE.

Maybe on the Q3 earnings conference call we will finally hear something other than "we know the company is in an absolute downward spiral but we think doing more of the same will eventually work. Because we are to proud to admit mistakes were made. Changing the strategy would mean taking accountability for the horrific performance and the decisions we made that caused it. So yeah.. Just going to do more of the same and ya know....cross our fingers."

 

Word is out, leaked from the home office.
December 15th will be layoff notices.
Will be about 57% of the sales force.
Also, major reduction in expenses to go along with it.

 

Confirmed this today. Salesforce to be cut. Morphabond is gaining momentum and no payer coverage bids being placed for 002. Plan is to sell 002 off instead of commercializing. Sprix reformulation will not protect exisiting product from generic entry and a generic manufacturer haa already submitted FDA paperwork for approved Sprix generic. The reformulation only patents an entirely new molecule. A molecule that is marginally different than the available Sprix generic. This stick will go to $0 within a year.

 

Sounds like a post from a salty employee. Did you pull that % layoff out of thin air? I hear they are finalizing annual raises, more vacation time has been awarded, most vacant territories have been filled! Sprix is too novel to go generic and has grown more than most brands I've ever seen in pharma. The little engine that could seems to still be expanding, and MorphaBond what? Their 700 rep sales force can barely generate a script a week per rep...